Cummins Inc dividend yield – Cummins Declares 1.57 Cash Dividend

🌥️Dividends Yield

On June 8 2023, Cummins Inc ($NYSE:CMI). declared a 1.57 cash dividend per share. Cummins Inc. has a strong track record of issuing an annual dividend per share of 6.16 USD, 6.04 USD and 5.6 USD in the last three years respectively. This year’s dividend yields from 2021 to 2023 are 2.84%, 2.87% and 2.31% respectively, with an average dividend yield of 2.67%. This stock may be attractive for investors looking for dividend stocks as the ex-dividend date is May 18 2023.

Investors should also note that although Cummins Inc. has a track record of consistently issuing dividends, it can never be guaranteed that dividends will be paid out in the future. Therefore, investors should always research companies thoroughly before investing in any dividend stock.

Share Price

As a result, the stock opened at $227.1 and closed at $226.9, up by 0.1% from last closing price of $226.7. This marks the second consecutive year that Cummins Inc has declared a cash dividend. The Company’s Board of Directors stated that the decision to pay a dividend is in recognition of its strong balance sheet and to reward shareholders for their continued support. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cummins Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cummins Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cummins Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Cummins Inc are shown below. More…

Analysis

GoodWhale has conducted an analysis of CUMMINS INC‘s wellbeing, and the results have been outstanding. Our Star Chart shows that CUMMINS INC has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable to pay off debt and fund future operations. Furthermore, CUMMINS INC is classified as a ‘gorilla’ type of company, one which we conclude has achieved stable and high revenue or earning growth due to its strong competitive advantage. Such a company is likely to be of interest to investors from a variety of angles. CUMMINS INC is strong in dividend, profitability, and medium in asset, growth. This indicates that it could be an attractive prospect for long-term value investors looking for steady returns, as well as short-term traders seeking to take advantage of any potential market swings. All in all, CUMMINS INC looks to be an excellent long-term investment opportunity for many investors. More…

Peers

Cummins Inc is one of the world’s leading manufacturers of engines and related technologies. The company’s products are used in a wide range of applications, including on-highway trucks, construction equipment, power generation, and marine. Cummins Inc has a strong competitive position in the markets it serves, and is constantly striving to improve its products and technologies to maintain this position. The company’s main competitors are Parker Hannifin Corp, Greenland Technologies Holding Corp, Hydraulic Elements and Systems AD.

– Parker Hannifin Corp ($NYSE:PH)

Parker Hannifin Corporation is an American corporation that specializes in motion and control technologies. Parker Hannifin is the world’s largest producer of hydraulic pumps and motors, and it is a major manufacturer of pneumatic cylinders, valves, and other motion-control products. The company has over 60,000 employees in 50 countries, and its products are used in a variety of industries, including aerospace, climate control, electromechanical, filtration, fluid and gas handling, hydraulics, pneumatics, process control, and sealing and shielding.

– Greenland Technologies Holding Corp ($NASDAQ:GTEC)

Greenland Technologies Holding Corp is a leading manufacturer of electronic products and components. The company has a market cap of 26.29M as of 2022 and a return on equity of 8.97%. Greenland Technologies Holding Corp designs, manufactures and sells a broad range of electronic products and components, including semiconductors, printed circuit boards, personal computers, cellphone handsets, digital cameras, and other consumer electronics products.

– Hydraulic Elements and Systems AD ($LTS:0NZ4)

AD is a diversified industrial company that operates in a variety of businesses, including Hydraulic Elements and Systems, Fluid Power, and Filtration. The company has a market cap of 122.81M as of 2022 and a Return on Equity of 13.72%. AD’s Hydraulic Elements and Systems business provides a wide range of products and services to a variety of industries, including construction, mining, and agricultural equipment. The company’s Fluid Power business provides hydraulic and pneumatic components and systems to a variety of industries, including the automotive, aerospace, and defense sectors. The company’s Filtration business provides filtration products and services to a variety of industries, including the food and beverage, pharmaceutical, and oil and gas industries.

Summary

CUMMINS INC has been a steady dividend paying company with an average dividend yield of 2.67% over the last three years. With a dividend payout of 6.16 USD, 6.04 USD, and 5.6 USD in 2021, 2022, and 2023 respectively, investors can expect a reliable income from the company. Furthermore, the dividend yields in 2021, 2022 and 2023 were 2.84%, 2.87%, and 2.31%, respectively. For investors who are looking for steady returns with low volatility, CUMMINS INC is an attractive option as it is less prone to drastic market movements.

Additionally, the company’s long-term financial stability and strong balance sheet makes it a safe choice for investors.